How can Yachtsnet offer these lower rates? |
Yachtsnet's lower
commission rates are possible primarily because we do not
have expensive marina-based offices, or use large magazine display
advertisements. Despite their expense, these typical yacht
brokerage adverts give only very sketchy details of the individual
boats available, and to find out more you have to wait for details
to be posted to you. With Yachtsnet, however, buyers can see
full details online almost immediately. |
Buying a boat through Yachtsnet |
Yachtsnet aims to make the process as simple as
possible - starting with letting you see full, accurate and honestly
presented details, and multiple good quality photographs, directly
on our web site. |
If you call us, you will be able to speak to someone
who has seen the boat advertised, and will give an honest assessment
of it's condition, and any work likely to be required. |
When you decide to actually visit a boat, Yachtsnet
staff or the owner will meet you and accompany you to see the boat. It
is at this point that you will find the full benefit of Yachtsnet's
detailed and accurate listings. You will not have to waste
time looking at unsuitable boats, or boats in far worse condition
than expected. |
Once you have found a boat, the sale process itself
is in many ways more complicated than buying a car, or even a house.
Yachtsnet makes checks that owners have "clear title"
to boats offered - ie that they are legally entitled to sell.
This will have been done on all boats offered for sale through Yachtsnet. |
If you choose to make an offer, it is normal (and
generally strongly recommended) to do so "subject to survey".
Yachtsnet will not recommend any individual surveyor to you, but
will be happy to give you a list of local surveyors. This list
of surveyors is also available online. |
If the seller accepts your offer, Yachtsnet will
draw up a sale agreement, which is signed by both buyer and seller,
and require payment of a deposit * against the
purchase price. This deposit will be held in a separate
client account at our bank. Yachtsnet will then liaise with
your appointed surveyor, and the boatyard, to arrange the survey. |
* Yachtsnet normally requires a 5% deposit at
this stage. Most other brokerages ask for 10%. The
deposit is primarily held as a sign of good faith on the
part of the buyer - to say that he is seriously interested in
the boat. It also acts as surety against a surveyor damaging
the boat during survey, and offers the owner protection against
any survey or boatyard haul out bills not being paid, creating
a 'lien' on the yacht.
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Although it is not essential, it is often an advantage
for you to see the survey carried out. It is important to
note that as buyer, you are responsible for the cost of repairing
any damage caused by the surveyor. Most yacht surveyors do
not in fact cause any significant damage - but you must be aware
of this point.
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Once you have the survey report, you will normally
either decide: |
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a) |
To complete the sale at the original price, or
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b) |
To re-negotiate the price, or require the owner
to repair or replace parts, as a result of minor defects found,
or |
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c) |
To pull out of the deal entirely, because
of extensive and major defects found |
Your deposit will be returned (less any costs of
"survey damage") if you do withdraw from the purchase
at this point. This situation is however very unusual.
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Once you and the seller have agreed a sale, Yachtsnet
will draw up all the documents required to transfer legal ownership
to you, and accept the balance of full payment. |
There is no charge whatsoever to you as buyer for
Yachtsnet's services. |
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If a survey is required, it normally takes around
three to five weeks to complete a sale
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Sales without a survey can be completed very quickly
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Selling a boat through Yachtsnet's brokerage |
Selling a yacht is a much more specialised business than selling
a car, or even a house. |
It is essential to ensure that conveyancing is carried out properly,
and that the sale contract is drawn up properly. There is
a considerable amount of paperwork involved, and Yachtsnet will
ensure that this is done correctly. |
Yachtsnet will first ask you to complete a brokerage form, and
provide us with copies of various documents proving that you do
own the boat. We will then arrange to inspect your boat, and
check the information you have given us. At this point Yachtsnet
will normally require a key to the boat, and for you to sign a form
authorising us to show the boat to prospective buyers. |
Yachtsnet will advise you on the presentation of the boat, and
if required can arrange (at cost price) for any cleaning or other
minor remedial work required to enable the boat to sell at a good
price. |
Yachtsnet will photograph the boat, both externally and internally.
A selection of these photographs will be used on the web page showing
your boat. If you do have any good colour photographs of the
boat under sail, we may also use these. |
The Yachtsnet web page for your boat will have a brief summary
of the characteristics of your boat. This will be written
by Yachtsnet staff. In the unlikely event that you disagree
with these comments, we will work with you to agree amendments.
Yachtsnet comments, however, will never aim to mislead purchasers.
They will be an honest description of the boat. Ultimately,
Yachtsnet will refuse to list a boat rather than to list with misleading
comments. |
An e-mail, or a colour printed copy of your yacht's details,
will be sent to all prospective buyers currently on our purchaser
database, or to anyone who subsequently contacts us asking for a
yacht of her type. |
We will whenever possible accompany potential customers who
view your yacht. If we cannot do so, we will ask that you
meet them. We will not send a customer unaccompanied to the
boat, except with your express permission. We will notify you of
any offers made. Yachtsnet will not accept any offer on your
behalf without your approval, even if it is for the full asking
price. |
On your acceptance of an offer we will draw up a standard contract,
and accept a 5% deposit from the purchaser. This deposit will
be held in a separate client account at our bank. |
Most purchasers will make their offer "subject to survey".
Yachtsnet will liaise with the purchaser's appointed surveyor, and
the boatyard, to arrange this. If as a result of this survey
they offer a lower price, which you do not accept, the buyer's deposit
will be returned, and Yachtsnet will continue to market the boat.
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On completion of the sale we will draw up all the documents
required to transfer legal ownership to the buyer, and accept the
balance of full payment from the buyer. The purchase price,
less our commission, will be paid to you by cheque, or by bank transfer
to your nominated bank account within five working days of completion
of sale by clearance of funds to our clients account and transfer
of title. |
Preparing a boat for sale |
Yachtsnet's detailed pictures and descriptions for brokerage
boats give potential customers a good idea of the layout and condition
of a boat, but one of the most important factors in achieving a
sale is the preparation
of the boat for sale. Our detailed advice is given on
our preparation page.
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Financial safety |
| Yachtsnet.co.uk is operated by Yachtsnet Ltd. Yachtsnet Ltd.
holds full insurance, and operates strictly according to the YBDSA
code of professional conduct. All monies held on behalf of our
clients are held in a separate clients account at Abbey National plc.
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